The Goldman Sachs Group (NYSE:GS) Announces Earnings Results, Beats Expectations By $3.01 EPS

The Goldman Sachs Group (NYSE:GS) announced its quarterly earnings data on Monday. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.57 by $3.01, RTT News reports. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $8.79 EPS.

The Goldman Sachs Group Stock Performance

GS traded up $13.91 during trading on Monday, reaching $403.40. 2,573,996 shares of the company were exchanged, compared to its average volume of 2,268,675. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20. The stock has a market cap of $130.92 billion, a P/E ratio of 17.07, a PEG ratio of 1.51 and a beta of 1.43. The firm has a 50 day moving average of $394.74 and a 200 day moving average of $364.03. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.29.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GS shares. JMP Securities increased their target price on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of The Goldman Sachs Group from $421.00 to $424.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Barclays lifted their target price on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Daiwa Capital Markets upgraded shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $410.00 to $430.00 in a research report on Thursday, March 14th. Finally, Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $418.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.05.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares in the company, valued at $3,809,443.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,907 shares of company stock valued at $15,080,021. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently added to or reduced their stakes in the stock. Pacific Center for Financial Services bought a new stake in The Goldman Sachs Group during the 1st quarter worth $33,000. First Capital Advisors Group LLC. bought a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $34,000. PCA Investment Advisory Services Inc. bought a new position in shares of The Goldman Sachs Group in the second quarter valued at approximately $34,000. Worth Asset Management LLC bought a new position in shares of The Goldman Sachs Group in the first quarter valued at approximately $33,000. Finally, Compass Wealth Management LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.